UBS Group Lowers ServiceNow (NYSE:NOW) Price Target to $875.00

ServiceNow (NYSE:NOW) had its price target lowered by UBS Group from $920.00 to $875.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. UBS Group’s price objective would indicate a potential upside of 21.03% from the company’s current price.

NOW has been the topic of a number of other reports. JMP Securities reiterated a “market outperform” rating and set a $825.00 price objective on shares of ServiceNow in a research note on Tuesday. Oppenheimer increased their price objective on shares of ServiceNow from $750.00 to $800.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Truist Financial increased their price objective on shares of ServiceNow from $700.00 to $750.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Jefferies Financial Group increased their target price on shares of ServiceNow from $885.00 to $900.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets decreased their target price on shares of ServiceNow from $850.00 to $830.00 and set an “outperform” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $782.85.

ServiceNow Price Performance

NYSE NOW opened at $722.94 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50 day moving average price is $759.21 and its 200-day moving average price is $707.90. ServiceNow has a 52-week low of $427.68 and a 52-week high of $815.32. The company has a market cap of $148.48 billion, a PE ratio of 77.32, a P/E/G ratio of 4.72 and a beta of 0.97.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, January 24th. The information technology services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. ServiceNow had a net margin of 20.34% and a return on equity of 14.00%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. Sell-side analysts forecast that ServiceNow will post 6.16 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 5,159 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $745.32, for a total value of $3,845,105.88. Following the sale, the insider now owns 5,453 shares in the company, valued at $4,064,229.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William R. Mcdermott sold 5,030 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $753.08, for a total transaction of $3,787,992.40. Following the completion of the sale, the chief executive officer now owns 17,177 shares in the company, valued at approximately $12,935,655.16. The disclosure for this sale can be found here. Insiders have sold 13,164 shares of company stock worth $9,940,303 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of ServiceNow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFG Private Wealth Management LLC acquired a new stake in ServiceNow during the third quarter valued at $28,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in ServiceNow during the fourth quarter valued at $29,000. AdvisorNet Financial Inc grew its position in ServiceNow by 266.7% during the fourth quarter. AdvisorNet Financial Inc now owns 44 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 32 shares during the period. Steward Financial Group LLC grew its position in ServiceNow by 125.0% during the third quarter. Steward Financial Group LLC now owns 63 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 35 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in ServiceNow during the third quarter valued at $35,000. Institutional investors and hedge funds own 87.18% of the company’s stock.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.